NEW YORK (CNNMoney) -- Gold
jumped to a record high Tuesday after
the minutes from the Federal Reserve's June policy meeting indicated the
central bank might be open to more monetary stimulus.

Gold futures for August delivery [don’t
buy futures, buy physical gold]
climbed $13.10, or 0.9%, to a record high of $1,562.30 an ounce. In after-market electronic trading, gold rose as high as
$1,574.30 an ounce.

The late-afternoon surge came after the minutes from the Federal Reserve's June
meeting said "a few members" of the bank's Federal Open Market
Committee said the bank "might have to consider providing additional
monetary policy stimulus, especially if economic growth remained too slow to
meaningfully reduce the unemployment rate in the medium run."

It's one of the first times the Fed
has made any direct reference to a third round of quantitative easing. The most recent round of quantitative easing, nicknamed
QE2, ended in June.

The Fed did not name which members of the FOMC were open to more fiscal
stimulus.

The dollar fell against the euro and
Japanese yen on the news. Commodities, which are traded in dollars, also rose, with
oil gaining more than 2%. Silver prices also advanced 2%.

"Even minor chatter about a
third round of stimulus makes investors sell the dollar," said Brian Dolan, chief currency strategist with
Forex.com.
…

My reaction: As I have been writing since it was below $800, buy gold!

There are so many topics I need to get up to date on! What is happening with
the yuan, the Fed’s balance sheet, the ongoing food crisis, etc… It is going
to take me a few days to catch up now that I have finished my video series on the ESF
and its history.

I believe the fraud is real, but it is not about profits. It is about covering loses. Nearling all the fraud going on, like this "leverage-and-loot scheme", is essentially the same: people involved get a cut of the "profit", but the bulk of the money goes into the treasury market to keep the dollar ponzi scheme going a few more months.